Bmo Family Office, LLC (Palo Alto)

Name: Bmo Family Office, LLC
Address: 2200 Geng Road, Palo Alto, CA, 94303
Telephone: (650) 210-5000

Bmo Family Office, LLC is a large advisory firm based in Palo Alto. It manages $12.77 billion of regulatory assets for 2,507 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Arizona, California, Connecticut, and 7 other states.

Bmo Family Office provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and asset allocation, performance measurement, non-discretionary investment advisory and subadvisory services. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bmo Family Office: assets under management

The assets under management (AUM) of Bmo Family Office, LLC is $12.77 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and $361.94 million of the total AUM is attributable to clients outside of the United States.

The firm manages $12.77 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $5.1 million each.

Bmo Family Office has custody of $11.95 billion in cash and securities for 38 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 37% of the total AUM. The second-largest asset type is investment and business development companies, which make up 26% of the firm’s portfolio. Investments in pooled investment vehicles form 24% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bmo Family Office, LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Darrel Harris Hackett serves?

The firm provides services to investment companies, high net worth individuals, and pooled investment vehicles. The largest group of clients of Darrel Harris Hackett is high net worth individuals with 39 clients and $12.77 billion of assets under management. Among the 9 most similar advisory firms, Bmo Family Office has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $12.77 billion for 42 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.

Bmo Family Office also advises several private funds. Namely, one hedge fund, five real estate funds, eleven other private funds, eight private equity funds, and two venture capital funds. The minimum investment commitment required of non-related persons ranges from $1 to $250,000.

Careers at Bmo Family Office, LLC

The company employs 120 people that are either part- or full-time employees. 46 percent of the employees work as investment advisers or researchers. 14 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Darrel Harris Hackett has been acting as President since 1 Aug 2014. Shannon Maureen Kennedy joined the executive team most recently as the Global Head.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Bmo Financial Corp	Sole member	1 Dec 2012	75% - 100%	51-0275712
Robert Gage Gray	Chief operating officer	1 Jan 2013	Other	2876977
Michael Richard Hutchinson	Chief compliance officer	1 Feb 2014	Other	2388357
Darrel Harris Hackett	Director	1 Aug 2014	Other	6404383
Steven Paul Matteucci	Chairman	1 Feb 2016	Other	4836617
Michael Patrick Stritch	Director	1 Jun 2016	Other	3129542
Stephanie Ann Lake	Chief financial officer	1 Dec 2016	Other	5845009
Carolyn Andrea Booth	Director	1 May 2017	Other	6798979
Shannon Maureen Kennedy	Global head	1 Jun 2019	Other	4352506

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Bank Of Montreal	Sole owner	1 Sep 1989	75% - 100%	13-4941092

Based in Palo Alto

The principal office where Bmo Family Office, LLC performs its advisory services is located at 2200 Geng Road, Palo Alto, CA 94303, which is also the mailing address of the firm. An additional office of the firm is in San Francisco, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (650) 210-5000 or by fax (650) 210-5099. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at bmofamilyoffice.com and its LinkedIn profile.